Global Water Transport Market Report 2022 – Market Forecast, Trends And Strategies

The global water transport market size is expected to grow from $507.75 billion in 2021 to $537.07 billion in 2022 at a compound annual growth rate (CAGR) of 5.8%. The water transport market is then expected to grow to $650.21 billion in 2026 at a CAGR of 4.9%.

What is the Global Water Transport Market?

The water transport market consists of sales of water transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide water transportation of passengers and cargo using watercraft, such as ships, barges, and boats.

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What drives the Global Water Transport Market?

Water transportation service companies are increasingly using sensor technologies to enable monitoring of remote locations of ships. A sensor is a device that detects and responds to some type of input from the physical environment. The specific input could be light, heat, motion, moisture, pressure, or any one of several other environmental phenomena present in the ship. Sensors in remote locations of ships collect data autonomously and relay the data to the control room in real-time. The data captured by the sensor allows shipowners to improve the overall maintenance cycle of visits, including condition monitoring and condition-based monitoring. For instance, NoraSens and Silicon Radar are some of the companies that manufacture sensors for ships.

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Global Water Transport Market Segments
The global water transport market is segmented:
By Type: Deep Sea, Coastal, and Great Lakes; Inland Water Transport
By Application: Onshore, Offshore
By Geography: The regions covered in the water transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Water Transport Global Market Report 2022provides market size and growth forecasts for the global water transport market, global water transport market share, water transport market segments and geographies, water transport market competitive landscape including leading competitors’ revenues, profiles and market shares. The water transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Water Transport Industry Playersinclude A.P. Møller-Mærsk A/S, China Ocean Shipping Company Limited, Cargill Incorporated; CMA CGM S.A., Hapag-Lloyd AG, Nippon Yusen, Evergreen Marine Corp, K-Line, Hyundai Merchant Marine Co. Ltd, and Kuehne + Nagel International AG. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.